I don't think anyone would have doubt on the breakdown of the market anymore, given the technical damage done to the chart on SPY...

 

First, it was the 50MA violated.

I was still kinda hoping that the it's just another simple pullback which might still give up another 'pop'.

Seems like I was dead wrong.

Get stopped out on both of my recent trades (SHLM & WYN).

Until the market is showing a clear trend, I guess I'll be having quite some time for a break, which I really needed.

 

 

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US dollar has finally broke above it's 200MA resistance.

As I've mentioned a few weeks back on the bull flag which has an estimated target price of around $80, well, after this successful breakout above the 200MA, it seems like the target price is pretty much very likely to be met.

With the USD showing some very bullish signs, the plunge of the US market this time around seems to be pretty ...... real.

 

 

As for GOLD, am still pretty much waiting for the wave C creation (mentioned in last week's post).

We should be able to see how it things turn out on this one next week, I believe.

 

 

Crude oil is still pretty much the same, above the support trend line.

We'll need to wait for more signs of direction.

 

 

 

 

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